Barrick Q2: Newmont JV Expansion, IPO Consent; EPS $0.73
Barrick Mining Corp reported strong second-quarter 2026 results, highlighted by a significant agreement with Newmont to expand the Nevada Gold Mines Joint Venture and Newmont's consent to Barrick's American IPO of its North American gold assets. The agreement includes a $1.95 billion cash payment from Newmont and resolves all outstanding disputes. Operationally, Barrick exceeded gold production guidance with 796,000 ounces, while achieving a 28% year-on-year increase in operating cash flow to $1.70 billion and a 50% rise in net earnings to $1.22 billion. The company also declared a $0.175 quarterly dividend and executed $1.2 billion in share buybacks, while maintaining full-year production and cost guidance.
Key Highlights
- Agreement with Newmont expands Nevada Gold Mines JV, creating a nearly 100-million-ounce gold complex.
- Newmont will pay Barrick a top-up payment of $1.95 billion cash within thirty days.
- Newmont consented to Barrick’s IPO of its North American gold assets, on track for year-end completion.
- Q2 gold production increased 11% over Q1 to 796,000 ounces, exceeding guidance.
- Operating cash flow of $1.70 billion for the quarter increased 28% year-on-year.
- Net earnings of $1.22 billion (+50% YoY), with EPS of $0.73 (+55% YoY) and adjusted EPS of $0.82 (+74% YoY).
- Declared a $0.175 quarterly dividend and repurchased $1.2 billion in shares.
- Full-year production and cost guidance unchanged; total attributable capital expenditure reduced to $3.8B-$4.2B.
Price Impact
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